earnings
confidence high
sentiment negative
materiality 0.80
Gentex Q3 sales record $608.5M (+6% YoY); guides FY2024 rev down to $2.35-2.40B
GENTEX CORP
2024-Q3 EPS reported
$1.38
revenue$1,771,676,766
- Net sales $608.5M (record), up 6% YoY; EPS $0.53, up 18% YoY; net income $122.5M, up 17%.
- Gross margin 33.5% vs 33.2% last year; target of 35-36% delayed to 2025.
- FY2024 guidance lowered: rev $2.35-2.40B (from $2.40-2.50B), gross margin 33.5-34% (from 34-34.5%).
- 3.2M shares repurchased at avg $30.16; 10.1M shares remain under plan.
- LVP in primary markets down 6% QoQ; company outperformed by 12%.